Shriram Pistons & Rings Ltd.

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quarterly results

As at 31st March, 2009
SHRIRAM PISTONS & RINGS LTD.
Regd. Office: 23, Kasturba Gandhi Marg, New Delhi - 110 001
Audited Financial Results for the year ended 31st March, 2009

( Figures in Million Rs.)
PARTICULARS Year Ended March Quarter Ended March Consolidated for Year ended March 
    2009 2008 2009 2008 2009 2008
    Audited Audited Unaudited Unaudited Audited Audited
1 a) Sales - Gross 6400 6038 1537 1759 6400 6038
  - Less: Excise Duty 583 696 95 196 583 696
  - Net Sales 5817 5342 1442 1563 5817 5342
  b) Other Operating Income 88 125 38 77 88 125
  Total Income 5905 5467 1480 1640 5905 5467
2 Expenditure            
  a) Increase/decrease in stock in trade and work in progress -13 -164 121 26 -13 -164
  b) Purchases of products  for Assembly 302 230 72 54 302 230
  c) Consumption of Raw Material 1390 1379 253 388 1390 1379
  d) Consumption of Stores Spares 860 743 153 211 860 743
  e) Employees  Cost 936 833 235 226 936 833
  f) Depreciation 490 446 131 130 490 446
  g) Other Expenditure 1290 1207 268 348 1290 1207
  TOTAL 5255 4674 1233 1383 5255 4674
3 Profit before Interest & Exceptional Items (1-2) 650 793 247 257 650 793
4 Interest 202 166 52 42 202 166
5 Profit after Interest but before Exceptional Items (3-4) 448 627 195 215 448 627
6 Exceptional Items - - - - - -
7 Profit from Ordinary Activities before tax (5+6) 448 627 195 215 448 627
8 Tax Expense            
  a)  Current & Deferred Tax  137 206 58 76 137 206
  b)  Fringe Benefit Tax  9 8 2 2 9 8
  Total 146 214 60 78 146 214
9 Net Profit from Ordinary Activities after tax (7-8) 302 413 135 137 302 413
10 Extraordinary Item - - - - - -
11 Net Profit for the period (9-10) 302 413 135 137 302 413
12 Paid up Equity Share Capital                       224 224 224 224 224 224
  (Face value of share-Rs. 10 each)            
13 Reserves excluding revaluation Reserves 2179 1928        
14 Earning per share(Basic/Diluted) (Rs.) 13.51 18.45 6.04 6.13 13.51 18.45
15 Public shareholding            
  - Number of shares (Million/Nos.) 11.68 11.68 11.68 11.68 11.68 11.68
  - Percentage of Shareholding (%) 52.23 52.23 52.23 52.23 52.23 52.23
16 Promoters and promoter group Shareholdings            
  a) Pledged / Encumbered            
      - Number of shares (Million/Nos.) - - - - - -
  b) Non-encumbered            
  - Number of shares (Million/Nos.) 10.69 10.69 10.69 10.69 10.69 10.69
  - Percentage of shares  100 100 100 100 100 100
  (as a % of the total shareholding of promoter & promoter group)            
  - Percentage of Shares  47.77 47.77 47.77 47.77 47.77 47.77
  (as a % of the total share capital of the company.)            
 

Notes: 

  1. Based on notification dated 31.03.2009 issued by Government of India, company has exercised option to apply transitional  provisions of modified AS-11. In accordance with the notification, exchange rate variation on long term foreign currency monetary items not relating to depreciable capital assets has been amortized over the life of such item restricted 31.03.2011 as against charging the entire amount in the Profit & Loss account in the period in which incurred. As a result :-
    i) Profit for the year / quarter ending March 2009 is higher by Rs. 28.03 Million.
    ii) Rs.1.46 Million has been credited to 'General Reserve' towards excess amount charged in the Profit & Loss account for the previous years over the amount amortizable as per the notification.

  2. Operations in subsidiary company is insignificant. Consolidated financial results in terms of Net Sales, Net Profit and EPS remains same, as mentioned above for stand alone operations of the company.

  3. No investor complaints were received during the above quarter. Also there were no investor complaints pending at the beginning/close of the quarter.

  4. Figures of previous periods have been regrouped wherever necessary.

  5. Promoters have given a declaration that they have not pledged / encumbered any shares of the company.

  6. The Board has declared dividend to equity Shareholders @ Rs.2.00 per share amounting to Rs. 52.36 million, inclusive of dividend tax, at its meeting of 05.05.2009.

  7. The above results were approved by Audit committee at its meeting of 04.05.2009 and taken on record by Board at its meeting of 05.05.2009.

Place: New Delhi
Date : 05.05.2009

(P.S. LADIWALA)
CHIEF FINANCIAL OFFICER

(A.K. TANEJA)
MANAGING DIRECTOR

 

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